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EXHIBIT "A" <br />AGREEMENT FOR LOAN AND REPAYMENT FOR FEASIBILITY STUDY <br />OF PROPOSED LA CADENA CORRIDOR REDEVELOPMENT PROJECT AREA <br />(City of Colton, California) <br />1. Parties and Date. <br />1.1 This Agreement is entered into this 16th day of August, 1994, by and <br />between the City of Colton, a municipal corporation ("City") and the <br />Redevelopment Agency for the City of Colton, a public body, corporate <br />and politic ("Agency"). <br />2. Recitals. <br />2.1 The Agency is authorized to carry out redevelopment of seven project <br />areas (Downtown I, Downtown II, Mt. Vernon, Cooley Ranch, Santa <br />Ana, West Valley, and Rancho/Mill Redevelopment Project Areas) <br />pursuant to the Redevelopment Plans for the Project Areas approved <br />and adopted by the City Council of the City of Colton ("Redevelopment <br />Plans"). <br />2.2 The Agency wishes to enter into a Consultant Services Agreement <br />("Agreement") for the preparation of a feasibility study for a new <br />redevelopment project area and plan ("La Cadena Corridor Project <br />Area"). <br />2.3 The California Community Redevelopment Law authorizes the Agency <br />to borrow funds for redevelopment purposes from private and public <br />sources. <br />NOW, THEREFORE, BE IT RESOLVED, in consideration of the foregoing and the <br />mutual promises and covenants contained therein, the parties hereto mutually <br />agree as follows: <br />3. Terms. <br />3.1 Amount of Loan. The City agrees to loan the Agency an amount not <br />to exceed $5,000.00 from the City's Electric Utility Fund ("Loan"). <br />Said Loan shall be in addition to any and all amounts heretofore loaned <br />to the Agency. <br />3.2 Disbursement of Funds. The City agrees to disburse loan proceeds to <br />the Agency from the City's Development Fees upon receipt of a <br />request in writing from the Agency. The Agency agrees to use such <br />proceeds only for the purpose provided in State Law and within the <br />City of Colton. <br />3.3 Debt to the City. In consideration of the Loan, the Agency <br />acknowledges a debt to the City in the amount of Loan during the term <br />of such Loan. <br />3.4 Term. Agency agrees to pay the City any and all funds borrowed <br />within five (5) years from the receipt of the Loan. Agency's obligation <br />-1- <br />